SC has stayed Rs. 6,300 crore penalty imposed on 11 cement companies by CCI for cartelization in the relevant market.

In its order dated 31.08.2016, CCI said that the cement companies used Cement Manufacturers Association (CMA) as a platform to share details relating to prices, capacity utilization, and production and thereby restricted production and supplies in the market. A penalty was also imposed on CMA. 

Later, CCI’s order was challenged by the manufacturers before NCLAT, which upheld the order on 25.07.2018.